Navan, Inc. $NAVN Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky grew its stake in shares of Navan, Inc. (NASDAQ:NAVN) by 812.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,875 shares of the company’s stock after buying an additional 105,841 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Navan were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada bought a new position in shares of Navan in the fourth quarter valued at approximately $35,000. California State Teachers Retirement System bought a new stake in Navan during the fourth quarter worth approximately $39,000. Russell Investments Group Ltd. bought a new stake in Navan during the fourth quarter worth approximately $51,000. Strs Ohio lifted its position in Navan by 86.4% in the first quarter. Strs Ohio now owns 12,300 shares of the company’s stock worth $163,000 after purchasing an additional 5,700 shares during the period. Finally, New York State Common Retirement Fund bought a new position in Navan during the 4th quarter valued at $101,000.

Insider Activity

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of Navan stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total transaction of $227,808.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arif Janmohamed sold 77,323 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $19.06, for a total value of $1,473,776.38. Following the completion of the transaction, the director owned 2,280,989 shares in the company, valued at $43,475,650.34. This represents a 3.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 5,139,153 shares of company stock worth $102,867,420. Corporate insiders own 63.39% of the company’s stock.

Navan Trading Down 2.0%

NASDAQ NAVN opened at $25.29 on Thursday. The firm’s 50 day moving average price is $21.66 and its two-hundred day moving average price is $15.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. Navan, Inc. has a twelve month low of $8.10 and a twelve month high of $28.22. The stock has a market cap of $6.43 billion and a price-to-earnings ratio of -11.76.

Navan (NASDAQ:NAVN) last released its earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The business had revenue of $220.23 million during the quarter. The firm’s revenue for the quarter was up 39.8% on a year-over-year basis. Equities analysts anticipate that Navan, Inc. will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NAVN. Morgan Stanley lifted their price target on Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. BNP Paribas Exane lifted their target price on Navan from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday. Rosenblatt Securities boosted their price target on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Jefferies Financial Group upped their price target on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, BTIG Research lifted their price objective on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.07.

Navan Company Profile

Navan (NASDAQ: NAVN) is a technology company that provides an integrated platform for corporate travel, expense management and business payments. The company combines online travel booking and itinerary management with expense reporting, corporate card services and payment processing to help organizations consolidate travel and T&E (travel and expense) workflows into a single system. Navan emphasizes a mobile-first user experience, automated reconciliation and policy controls to simplify administrative processes for finance and travel teams while improving the experience for travelers.

Navan’s offerings typically include online and mobile travel booking, real-time traveler support and duty-of-care features, automated expense capture and reporting, corporate card and virtual card issuance, and tools for payments and invoice management.